Cornerstone Wealth Management LLC Purchases 2,393 Shares of The Procter & Gamble Company (NYSE:PG)

Cornerstone Wealth Management LLC raised its holdings in shares of The Procter & Gamble Company (NYSE:PG) by 2.5% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 99,559 shares of the company’s stock after acquiring an additional 2,393 shares during the quarter. Procter & Gamble makes up approximately 1.2% of Cornerstone Wealth Management LLC’s holdings, making the stock its 13th biggest position. Cornerstone Wealth Management LLC’s holdings in Procter & Gamble were worth $17,244,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in PG. Steele Capital Management Inc. bought a new stake in Procter & Gamble during the first quarter worth $204,000. GAMMA Investing LLC lifted its stake in Procter & Gamble by 67.2% in the 2nd quarter. GAMMA Investing LLC now owns 26,803 shares of the company’s stock valued at $4,420,000 after purchasing an additional 10,777 shares during the last quarter. Consilio Wealth Advisors LLC grew its holdings in Procter & Gamble by 27.7% during the first quarter. Consilio Wealth Advisors LLC now owns 1,746 shares of the company’s stock worth $283,000 after purchasing an additional 379 shares during the period. AMF Tjanstepension AB increased its position in Procter & Gamble by 416.1% during the third quarter. AMF Tjanstepension AB now owns 1,818,490 shares of the company’s stock worth $315,016,000 after buying an additional 1,466,115 shares during the last quarter. Finally, Talbot Financial LLC increased its position in Procter & Gamble by 1.5% during the 1st quarter. Talbot Financial LLC now owns 65,600 shares of the company’s stock worth $10,644,000 after buying an additional 950 shares during the period. 65.77% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, insider Balaji Purushothaman sold 8,842 shares of Procter & Gamble stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $164.90, for a total transaction of $1,458,045.80. Following the sale, the insider now directly owns 11,537 shares of the company’s stock, valued at approximately $1,902,451.30. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, insider Balaji Purushothaman sold 8,842 shares of the firm’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $164.90, for a total transaction of $1,458,045.80. Following the completion of the transaction, the insider now owns 11,537 shares of the company’s stock, valued at approximately $1,902,451.30. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Susan Street Whaley sold 634 shares of Procter & Gamble stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $171.65, for a total transaction of $108,826.10. Following the transaction, the insider now owns 19,341 shares in the company, valued at approximately $3,319,882.65. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 383,194 shares of company stock valued at $65,140,718 in the last 90 days. Corporate insiders own 0.17% of the company’s stock.

Procter & Gamble Stock Down 0.7 %

Shares of NYSE PG opened at $172.36 on Thursday. The stock has a 50-day moving average price of $171.72 and a two-hundred day moving average price of $167.00. The Procter & Gamble Company has a 12 month low of $142.50 and a 12 month high of $177.94. The company has a current ratio of 0.73, a quick ratio of 0.53 and a debt-to-equity ratio of 0.51. The company has a market cap of $406.78 billion, a price-to-earnings ratio of 28.16, a PEG ratio of 3.67 and a beta of 0.41.

Procter & Gamble (NYSE:PG) last released its quarterly earnings data on Tuesday, July 30th. The company reported $1.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.37 by $0.03. Procter & Gamble had a net margin of 17.71% and a return on equity of 33.46%. The business had revenue of $20.53 billion during the quarter, compared to analysts’ expectations of $20.69 billion. During the same period in the prior year, the company earned $1.37 EPS. The firm’s quarterly revenue was down .1% compared to the same quarter last year. As a group, analysts forecast that The Procter & Gamble Company will post 6.97 earnings per share for the current fiscal year.

Procter & Gamble Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Friday, October 18th will be issued a dividend of $1.0065 per share. This represents a $4.03 annualized dividend and a dividend yield of 2.34%. The ex-dividend date is Friday, October 18th. Procter & Gamble’s dividend payout ratio (DPR) is 65.69%.

Analyst Ratings Changes

PG has been the topic of several research reports. Hsbc Global Res upgraded shares of Procter & Gamble to a “strong-buy” rating in a research note on Friday, October 4th. DZ Bank upgraded shares of Procter & Gamble from a “hold” rating to a “buy” rating and set a $190.00 target price on the stock in a research report on Thursday, August 29th. Citigroup lifted their price target on shares of Procter & Gamble from $177.00 to $190.00 and gave the company a “buy” rating in a research report on Wednesday, July 10th. Evercore ISI increased their price target on Procter & Gamble from $177.00 to $183.00 and gave the stock an “outperform” rating in a research report on Thursday, July 18th. Finally, DA Davidson reaffirmed a “neutral” rating and issued a $159.00 price objective on shares of Procter & Gamble in a report on Tuesday. Nine analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Procter & Gamble has an average rating of “Moderate Buy” and an average target price of $176.21.

About Procter & Gamble

The Procter & Gamble Company engages in the provision of branded consumer packaged goods worldwide. The company operates through five segments: Beauty; Grooming; Health Care; Fabric & Home Care; and Baby, Feminine & Family Care. The Beauty segment offers conditioners, shampoos, styling aids, and treatments under the Head & Shoulders, Herbal Essences, Pantene, and Rejoice brands; and antiperspirants and deodorants, personal cleansing, and skin care products under the Olay, Old Spice, Safeguard, Secret, SK-II, and Native brands.